TEMPE, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Black Rock Coffee, a 2,200-square-foot net-leased property located in Tempe, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office.
The asset sold for $1,950,000 ($886 PSF).
Chris Lind and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Black Rock Coffee is located at 1202 West Broadway Road in Tempe, Arizona. Built in 2020 on 0.68 acres, Back Rock Coffee is visible to 33,500+ cars per day due to its location immediately off the I-10 freeway, the primary connector for the Phoenix area.